CHICAGO (WBBM NEWSRADIO) -- The Geneva teachers strike is in its third day, but contract talks will resume Thursday night.

The Geneva District 304 school board said in a statement that it expects Thursday night’s negotiating session will begin with the teachers’ newest response or counter-proposal to the board’s last offer early Tuesday morning.

Teachers union president Kevin Gannon said he hopes an agreement can be reached Thursday night.

About 450 teachers and other staffers went on strike Tuesday when talks broke down over the so-called “step and lane” pay schedule that’s been used for decades in Geneva and throughout Illinois. "Step and lane" schedules base teacher pay on the number of years of service in addition to how many academic degrees they have.

Geneva Education Association president Gannon said his team has been trying to work on possible compromise scenarios.

"Our side has been going through the numbers and looking at different scenarios and opportunities to get to an agreement," he said.

There are about 58,000 students in the Geneva District 304’s 10 schools.

The Geneva District 304 board said in a statement it hopes an agreement is reached and students are back in class soon.